For fledgling companies, funding is the be-all and end-all for any significant growth. In Austria, there is a large number of programs that offer early stage funding for startups, small companies and research organizations. Among them are initiatives of the Austria Wirtschaftsservice (aws) or the Österreichische Forschungsförderungsgesellschaft (FFG). Even on the european level, there is the EIC Accelerator and HorizonEurope. However, it can be very difficult and complicated to find exatctly the right funding program and succeed in getting financial support. A company that expertly consults young companies in Austria in these matters is Dharma Funding Solutions.
“We can tell the chances of securing a funding”
Dharma Funding Solutions was founded in 2017 in Graz by Dr. Vijay Verma, a true authority on the subject of fundings. The goal of the company is to help startups, small or mid-sized firms as well as research projects in finding the right funding program and to secure their first financial aid. The expert team of Dharma Funding Solutions gives the founders advice in what they need to do to meet the requirements of the programs.
“We can tell whether or not a project has any chance of securing a funding. If that ist the case, we consult them on how to get it. We discuss their project with them in detail and then evaluate exactly what program is ideal for them and how they can optimize their business to be a perfect match”, explains Dr. Verma. Depending on the funding program, the clients might need to do very different things to apply. Some Pre-Seed-programs require only an early stage-company, the EIC Accelerator on the other side companies which have already developed a working prototype.
Broad spectrum of expertise at Dharma Funding Solutions
Dr. Verma recommends at least having an advanced business concept as well as a fully formed team. What isn’t so much a requirement for the consultation of Dharma Funding Solutions is a specific field of operations. Dr. Verma himself is an expert on the sector of sustainable energy, but the other specialists at the company have extended experience in fields such as Science, biology, healthtech, Greentech, Space technology and even the creative industry, so there is a wide variety of clients that Dharma can support considerably.
Interested parties can get in touch with Dharma and arrange a meeting, which can also take place remotely. There, they have to explain their project in detail to an expert whose speciality lies closest to the client’s business model. The Dharma Funding Solutions-employees are always under a strict NDA during these interviews, so everything that is being said is confidential. The first hour of consultation is completely free of charge. Afterwards the experts can make their first recommendations regarding fundings.
“Clients can focus on projects and services”
Should the clients need more support, they can take part in a workshop that lasts for two hours. There, they receive extensive knowledge about how to grow their business over the next years. Even when they have made it to their first funding, they can call on Dharma Funding Solutions for help. “We have served some of our clients for twelve to fifteen years”, says Dr. Verma. The company can also help them in other areas, such as optimizing their financial resources, project management, company valuation, Competitor analysis, Market search and business plan development .
Every single project has a technical expert, a financial expert and an expert for quality controlling assigned to it. Thus, the ideal funding plan can be created. There is a fixed fee as well as a success fee for the services of Dharma. “However, through us our clients can focus completely on the development of their products and services. This can save them a lot of time, money and effort”, states the Dharma Funding Solutions-founder.
Support for international companies
Dharma Founding Solutions is focused specifically on fundings in Austria. However, this does not mean that the company isn’t international. Companies from other EU-countries or even outside of the EU can get advice for expansion to Austria. At this time, the company has helped with more than 200 projects. About 60 percent of these are Austrian. Almost 40 percent are from other european countries, a couple of them even from the USA. Being part of the network of Dharma Founding Solutions can still hold further benefits. The company offers mixed matchmaking all over Europe for HorizonEurope projects. This means that Dharma brings projects together so they can apply for bigger EU funding programs.
Those who are interested in making a first appointment with Dharma Founding Solutions free of charge can find the contact information here.